City's summer buys continue with $26m signing of midfielder Fernando from Porto

(REUTERS) - Manchester City have completed the signing of FC Porto's Brazilian midfielder Fernando, the Premier League champions said today.

The Portuguese club had said in a stock-market statement yesterday that they had sold the 26-year-old for 15 million euros (S$26 million) to City.

"I am so happy to finally be joining Manchester City," the defensive midfielder, who is not part of Brazil's World Cup squad, said on the club's website (

"I know there was talk of me possibly signing last January so I am delighted that the deal has now been done and that I am a City player."

Fernando is City's second recruit of the close season after France right-back Bacary Sagna agreed to a move from Arsenal.

Said Fernando: "It is a very exciting time to be part of this football club and I cannot wait to play in the Premier League. City fans can be assured I will give my all every time I play and I'm looking forward to many happy years in Manchester."

City are ploughing ahead with their transfer plans despite being fined up to 60 million euros and having their squad capped for next season's Champions League after breaching Uefa's Financial Fair Play rules.

Fernando would give City another option in midfield amid speculation about Yaya Toure's future following the Ivory Coast player's disagreements with the club.